Sanctions against Russia
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MOAS: The Mother of all Sanctions.
Singapore’s biggest banks are restricting trade financing for Russian raw materials, as the war in Ukraine spurs lenders in Asia’s largest energy and commodities trading hub to reduce exposure to the sanction-hit country.
The limits include a halt on issuing so-called letters of credit in U.S. dollars for trades involving Russian oil and liquefied natural gas, according to people familiar with the situation.
DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. and United Overseas Bank Ltd. have stopped issuing letters of credit involving Russian energy deals because of uncertainty over the course of sanctions, according to the people, who asked not to be identified as the information isn’t public.
A choke on trade financing in a top commodities hub such as Singapore could snarl the trade of some physical cargoes and add further pressure to prices, even though the U.S. and European Union sought to exclude energy from the latest round of new sanctions.
On Monday, the first day of trading after Western nations unleashed more sanctions to isolate Russia, one of the world’s biggest oil and gas exporters, Brent crude, the global benchmark, rose as much as 7% to top $105 a barrel when trading opened in Asia, while European natural gas shot up 36%.
The move also comes as Singapore’s Foreign Minister Vivian Balakrishnan said in parliament Monday that the government would block certain Russian banks and some financial transactions involving Russia, though details are still being worked out.
Lenders in the city-state, a key trading hub for commodities trade and finance in Asia, join at least two of China’s largest state-owned banks and some banks in Europe in restricting the ability to purchase Russian commodities.
“DBS will comply with all applicable sanctions,” the bank said in response to request for comment. “Separately, we have minimal direct exposure to Russia, and consistent with our risk management obligations, have adjusted appetite for transactions consuming Russian exposure limits.”
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Pretty good explainer about the effects and limitations of sanctions from Noah Smith.
https://noahpinion.substack.com/p/the-big-sanctions-a-quick-explainer?utm_source=url
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Pretty good explainer about the effects and limitations of sanctions from Noah Smith.
https://noahpinion.substack.com/p/the-big-sanctions-a-quick-explainer?utm_source=url
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FedEx and UPS suspend deliveries.
https://www.nbcnews.com/news/world/live-blog/russia-ukraine-live-updates-n1290057
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FedEx and UPS suspend deliveries.
https://www.nbcnews.com/news/world/live-blog/russia-ukraine-live-updates-n1290057
@George-K said in Sanctions?:
FedEx and UPS suspend deliveries.
https://www.nbcnews.com/news/world/live-blog/russia-ukraine-live-updates-n1290057
Hahahaha...
No more Chinese shit for Russians.
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Yeah, Turkey.
Responding to the Treaty...
https://www.wsj.com/livecoverage/russia-ukraine-latest-news-2022-02-26/card/uDQCa9dMZsNGZLQsfWYg
Turkey’s foreign minister said Sunday that the situation in Ukraine had become a war, a legal distinction that paves the way for Ankara to potentially ban Russian warships from entering the Black Sea through a strategic chokepoint.
Turkey’s government had said on Friday it was working to determine whether a state of war existed in the region. In wartime, Ankara can block some warships from countries involved in the conflict from accessing the Black Sea under the 1936 Montreux Convention.
“We came to the conclusion that the situation in Ukraine has transformed into a war,” said Foreign Minister Mevlüt Çavuşoğlu, speaking on CNN Turk. “We will implement all articles of Montreux transparently.”
Ukraine asked Turkey on Thursday, the first day of the invasion, to close the Bosphorus and Dardanelles Straits to Russian warships.
The request put pressure on Turkey, a NATO member that also has close ties to Russia. Turkey has fought Russian proxies in Syria and Libya and also sent armed drones to Ukraine, while President Recep Tayyip Erdogan has also developed a close relationship with Vladimir Putin.
The Montreux Convention, which grants Turkey control over the Bosporus and Dardanelles straits, allows Turkey to ban ships not based in the Black Sea under certain circumstances during times of war.
Turkey has invoked a “state of war” to ban warships only one other time in history, during the Second World War when it blocked Germany and Italy from using the Turkish straits to access the Black Sea. Ankara rejected an American request to move warships to the Black Sea in 2008, citing tonnage limits on naval vessels sent from outside the region.
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Yeah, Turkey.
Responding to the Treaty...
https://www.wsj.com/livecoverage/russia-ukraine-latest-news-2022-02-26/card/uDQCa9dMZsNGZLQsfWYg
Turkey’s foreign minister said Sunday that the situation in Ukraine had become a war, a legal distinction that paves the way for Ankara to potentially ban Russian warships from entering the Black Sea through a strategic chokepoint.
Turkey’s government had said on Friday it was working to determine whether a state of war existed in the region. In wartime, Ankara can block some warships from countries involved in the conflict from accessing the Black Sea under the 1936 Montreux Convention.
“We came to the conclusion that the situation in Ukraine has transformed into a war,” said Foreign Minister Mevlüt Çavuşoğlu, speaking on CNN Turk. “We will implement all articles of Montreux transparently.”
Ukraine asked Turkey on Thursday, the first day of the invasion, to close the Bosphorus and Dardanelles Straits to Russian warships.
The request put pressure on Turkey, a NATO member that also has close ties to Russia. Turkey has fought Russian proxies in Syria and Libya and also sent armed drones to Ukraine, while President Recep Tayyip Erdogan has also developed a close relationship with Vladimir Putin.
The Montreux Convention, which grants Turkey control over the Bosporus and Dardanelles straits, allows Turkey to ban ships not based in the Black Sea under certain circumstances during times of war.
Turkey has invoked a “state of war” to ban warships only one other time in history, during the Second World War when it blocked Germany and Italy from using the Turkish straits to access the Black Sea. Ankara rejected an American request to move warships to the Black Sea in 2008, citing tonnage limits on naval vessels sent from outside the region.
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"Get your stuff off my server!"
Namecheap terminates services for Russians, asks them to move domains
Domain registrar Namecheap is emailing customers registered in Russia saying it will no longer provide them with services because of Russia's invasion of Ukraine.
"Unfortunately, due to the Russian regime's war crimes and human rights violations in Ukraine, we will no longer be providing services to users registered in Russia," the company says in the emails sent earlier today.
"While we sympathize that this war may not affect your own views or opinion on the matter, the fact is, your authoritarian government is committing human rights abuses and engaging in war crimes so this is a policy decision we have made and will stand by."
Namecheap also asked Russian users to move their top-level domains to other providers until March 6 and offered to help those who reach out for assistance with the move.
The company added that all affected domains would be automatically configured to display 403 Forbidden HTTP errors.
"If you hold any top-level domains with us, we ask that you transfer them to another provider by March 6, 2022," Namecheap added.
"Additionally, and with immediate effect, you will no longer be able to use Namecheap Hosting, EasyWP, and Private Email with a domain provided by another registrar in zones .ru, .xn--p1ai (рф), .by, .xn--90ais (бел), and .su.
"All websites will resolve to 403 Forbidden, however, you can contact us to assist you with your transfer to another provider."
Namecheap's CEO also told Russians angry about the company's decision that they have a lot of other providers they can choose to get the same services.
"We haven't blocked the domains, we are asking people to move. There are plenty of other choices out there when it comes to infrastructure services so this isn't 'deplatforming'," Namecheap CEO Richard Kirkendall explained.
"People that are getting angry need to point that at the cause, their own government. If more grace time is necessary for some to move, we will provide it."
Namecheap is a US-based technology company and an ICANN-accredited domain registrar with over 1,700 employees across 18 countries.
It provides domain registration, DNS, web hosting, and other services to over 2 million customers worldwide and manages more than 14 million domain
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I would imagine this is how the russian citizenry will find out about international sentiment towards russia's invasion.
@89th said in Sanctions?:
I would imagine this is how the russian citizenry will find out about international sentiment towards russia's invasion.
It may take a little longer, but I suspect word is spreading pretty rapidly. I can just imagine what the older folks think, having lived under the Soviets. I wonder what the younger people think?
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
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@89th said in Sanctions?:
I would imagine this is how the russian citizenry will find out about international sentiment towards russia's invasion.
It may take a little longer, but I suspect word is spreading pretty rapidly. I can just imagine what the older folks think, having lived under the Soviets. I wonder what the younger people think?
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@89th said in Sanctions?:
I would imagine this is how the russian citizenry will find out about international sentiment towards russia's invasion.
It may take a little longer, but I suspect word is spreading pretty rapidly. I can just imagine what the older folks think, having lived under the Soviets. I wonder what the younger people think?
According to MIL, people our age or older are not buying any of the BS. People under 30 though are buying it hook, line and sinker. The middle generation is mixed although the sanctions will definitely hit them hardest especially in the large cities. The rural areas though are firmly behind Putin.
Elbows up!
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According to MIL, people our age or older are not buying any of the BS. People under 30 though are buying it hook, line and sinker. The middle generation is mixed although the sanctions will definitely hit them hardest especially in the large cities. The rural areas though are firmly behind Putin.
@Renauda said in Sanctions?:
People under 30 though are buying it hook, line and sinker.
Until their iPhones stop working.
We have the freedom to choose our actions, but we do not get to choose our consequences.
Yes, there are two paths you can go by, but in the long run, there's still time to change the road you're on. -
@Renauda said in Sanctions?:
People under 30 though are buying it hook, line and sinker.
Until their iPhones stop working.
Good point.
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Russia is getting deplatformed from the world. The war in Ukraine is in many ways a traditional military clash involving tanks, missiles, diplomats, and supply lines. But nonstate actors have started taking sides—well, taking one side—in ways that the world hasn't seen before, with private sector businesses and international organizations responding to Russia's attack on its neighbor by cutting ties with Moscow, and in some cases sacrificing huge sums of money. Combined with the sanctions imposed by the United States and Europe (and perhaps motivated by them too), this mass exodus of foreign capital is demonstrating how the market can punish even powerful states for dangerous and unjustified behavior.
"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
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Russia is getting deplatformed from the world. The war in Ukraine is in many ways a traditional military clash involving tanks, missiles, diplomats, and supply lines. But nonstate actors have started taking sides—well, taking one side—in ways that the world hasn't seen before, with private sector businesses and international organizations responding to Russia's attack on its neighbor by cutting ties with Moscow, and in some cases sacrificing huge sums of money. Combined with the sanctions imposed by the United States and Europe (and perhaps motivated by them too), this mass exodus of foreign capital is demonstrating how the market can punish even powerful states for dangerous and unjustified behavior.
